Abu dhabi: The Ministry of Finance (MoF) has entered into a strategic Memorandum of Understanding (MoU) with the Institute of Management Accountants (IMA) to introduce the Certified Management Accountant (CMA) and Financial and Managerial Accounting Associate (FMAA) certifications. This initiative is part of the Ministry’s ongoing efforts to align national cadres with global professional standards in accounting and financial management.
According to Emirates News Agency, the MoU is designed to advance professional excellence within the government financial sector by enabling employees to secure international professional certifications that bolster financial sustainability and leadership in federal performance. The signing ceremony took place at the Ministry of Finance headquarters in Abu Dhabi, attended by key figures such as Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, and Ahmad Mkhallati, Senior Director at IMA Middle East, among others.
AlKhoori highlighted that this partnership will facilitate a significant shift in the development of national financial talent, reinforcing leadership in public finance and sustainable development. He emphasized the Ministry’s belief in investing in human capital, noting that these certifications will cultivate highly specialized capabilities to support the nation’s transition towards a knowledge-based, sustainable economy.
He further remarked that acquiring global certifications like the CMA and FMAA underscores the Ministry’s commitment to enhancing employee skills and professional standards within the federal financial sector, promoting transparency and efficiency in managing government resources in accordance with international best practices.
The collaboration with IMA marks a pivotal step in advancing the federal financial work environment, equipping national cadres with up-to-date knowledge and technical tools. This initiative aims to prepare them for the rapid transformations in public finance and financial analysis, thereby strengthening institutional excellence and professional innovation.
Mike DePrisco, President and CEO of IMA, stated that this collaboration signifies a key development in the shared mission to promote the management accounting profession globally. He commended the UAE for its dedication to building a future-ready economy and acknowledged the Ministry’s efforts in setting a global benchmark for excellence, accountability, and strategic financial management through these certifications.
The MoU establishes a comprehensive cooperation framework between MoF and IMA in accounting, financial management, and business development. It leverages IMA’s expertise to qualify accountants and financial professionals within the Ministry and federal government entities. Advanced training programs leading to CMA and FMAA certifications will be offered, fostering national talent development in the financial and accounting sectors.
Additionally, the MoU involves collaboration on exchanging professional insights and consulting on international trends in business and accounting, supporting the adoption of global best practices. The partnership will also include organizing specialized professional events aimed at enhancing ongoing professional development for accounting and financial management professionals across the country.
This agreement builds on the Ministry’s previous successful initiatives to develop national talent, including the qualification of over 145 Emirati employees in partnership with other international associations in accounting standards, public finance, and financial sustainability.